Hood Rich: 1. A person with extravagant luxuries that they clearly cannot afford and they live in the hood or have a hood lifestyle
2. You ain't got [expletive] in the bank, or a job, but you still get what you want, and you look good doing it.
Source: Urban Dictionary
People seem consistently baffled by America's outlandish, out-of-control spending. We have a Trillion-dollar deficit and we're projected to default
on foreign debt as early as this Summer. Our tax revenue is plunging, which virtually assures that we go bankrupt (because, mind you, during financial
meltdowns, reduction in tax revenue contributes more to the deficit than bank recapitalization and bailouts). So why are we spending Trillions
with a T) of dollars to "bail out" Wall St. and $800+ Billion on "infrastructure" spending?
We're hood rich.
What do you do when you are poor, and winter is about to hit, and you know that you will continue to be poor for the foreseeable future, and somebody
is still stupid enough to extend a line of credit? Do you do the "responsible" thing, and refuse the credit that you can't afford? Or do you take
the credit, worry about paying it back later, and pay for rent, electricity, gas, water, food, and an Escalade -- all to get you and your family
through the winter?
America seems to have picked the second option, and is investing in infrastructure (rent, electricity, gas, water, food) and Wall St. bailouts (the
Escalade). The hope is that we can survive winter without having to go without the essentials (highways, overpasses, power plants, transportation,
This is occuring because, unless a miracle happens, we're going into winter (K-Winter
no hope of being able to finance these things unless we accept the credit NOW
, before the other party figures out that we can't pay them
If you want to see what results when you don't take this route, and don't secure your infrastructure in advance of everybody else figuring out that
you're broke, look at Detroit
Get it? The old operating procedure is out the window. Now we're getting what we can, while can get it. And if you think you're
just imagine how it feels to be a foreign nation who happens to be lending to the USA (China to USA:
"We hate you guys."